12 Dec 2013
GBP/USD jumps into European session
FXstreet.com (Barcelona) - GBP/USD dropped overnight to post a low 1.6353, before ranging overnight and jumping higher to post a high at 1.6415.
GBP/USD jumps into European session
A quiet morning for UK data has seen GBP/USD jump into the European session, posting a high at 1.6415, and finding resistance at the hourly 50 SMA at 1.6410, before gently retracing to where we are currently trading at 1.6406, up 0.7% on the day. Despite the lack of UK data, this morning has seen ECB President Draghi speak, and the SNB hold rates at 0%, with GBP/CHF posting similar gains and EUR/GBP declining sharply.
What are today’s key GBP/USD levels and patterns?
Hourly RSI sits at 60 and climbing, with ADX at 30.6. The FXstreet.com propriatary indicators, the OB/OS Index and the Trend Index are neutral and slightly bullish respectively. The daily pivot point sits at 1.6392, with support below at 1.6325 (S1), 1.6272 (S2) and 1.6205 (S3) and resistance above at 1.6445 (R1), 1.6512 (R2) and 1.6565 (R3). Matt Bacon-Hall of FXBeat sees resistance at “1.6470 Buy stops commence, 1.6440-50 Leveraged and macro offer, & 1.6400-10 Leveraged offers” and support below at “1.6300-15 Prop account bids, 1.6280 Sell stops commence, & 1.6250-60 Light bids, variety of accounts.” A daily Dark Cloud Cover candlestick pattern can also be seen.
GBP/USD jumps into European session
A quiet morning for UK data has seen GBP/USD jump into the European session, posting a high at 1.6415, and finding resistance at the hourly 50 SMA at 1.6410, before gently retracing to where we are currently trading at 1.6406, up 0.7% on the day. Despite the lack of UK data, this morning has seen ECB President Draghi speak, and the SNB hold rates at 0%, with GBP/CHF posting similar gains and EUR/GBP declining sharply.
What are today’s key GBP/USD levels and patterns?
Hourly RSI sits at 60 and climbing, with ADX at 30.6. The FXstreet.com propriatary indicators, the OB/OS Index and the Trend Index are neutral and slightly bullish respectively. The daily pivot point sits at 1.6392, with support below at 1.6325 (S1), 1.6272 (S2) and 1.6205 (S3) and resistance above at 1.6445 (R1), 1.6512 (R2) and 1.6565 (R3). Matt Bacon-Hall of FXBeat sees resistance at “1.6470 Buy stops commence, 1.6440-50 Leveraged and macro offer, & 1.6400-10 Leveraged offers” and support below at “1.6300-15 Prop account bids, 1.6280 Sell stops commence, & 1.6250-60 Light bids, variety of accounts.” A daily Dark Cloud Cover candlestick pattern can also be seen.